Woods close to new deal with Nike

The Sports Xchange

The SportsXchangeJune 3, 2013

The agent for Tiger Woods said the golfer is close to signing a new deal with Nike that would keep him the sport's highest-paid endorser. "We're down to the very, very short strokes right now ... I would expect we would come out with some sort of joint announcement when we get the paperwork signed," agent Mark Steinberg told ESPN. "I hope this is viewed as a pretty bold statement." Woods' 2006 contract with Nike expires at the end of this year, but the new deal could be signed in the next couple weeks by the start of the U.S. Open. Woods acknowledged Sunday at the Memorial Tournament that he is waiting for the contract. "(The document's) just got to get in front of me," he said. "Just a matter of time." Golf Digest reported earlier this year that Woods made $77 million in endorsements in 2012. The figure from Nike is believed to be more than $20 million per year. Sports Illustrated countered that the figure is closer to $40 million annually. Steinberg would not reveal the financial terms of the new Nike proposal. Woods also endorses Rolex, Fuse, EA Sports, NetJets and Kowa, a Japanese company. Woods finished 20 shots back at the Memorial over the weekend, tying for 65th overall. However, he has won seven tournaments in the last 15 months, including four this year, and is the top-ranked golfer in the world. He had fallen to 58th in the world in 2011.